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Xiao Yaqing Addresses China Development Forum

Updated: 2019-03-28

Xiao Yaqing, Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), was invited to attend the China Development Forum 2019 in Beijing on March 23.

Xiao delivered a speech at a dinner meeting during the forum. He said that the SOE reform in China and the cooperation between SOEs, private companies and foreign-funded enterprises have been deepening over the past 40 years of reform and opening-up.

He noted in particular that since President Xi Jinping proposed the Belt and Road Initiative in 2013, Chinese central SOEs, adhering to the principle of mutual benefit and common development, having been adopting active measures to expand cooperation with enterprises of all types of ownership.

He said these enterprises have made significant progress in cooperation involving property rights, the Chinese market, industrial division of labor and major projects, gradually forming a pattern of integrated development.

He went on to say that China's economy has shifted from high-speed growth to high-quality development, which has brought a lot of opportunities for cooperation between Chinese and foreign enterprises in China's economic transformation and upgrading, international market development, reform and development of China's SOEs, and strengthening supervision of state assets, all of which require enterprises of all kinds of ownership to engage in and form a joint force.

Chinese SOEs are willing to strengthen communication with private and foreign enterprises, explore new ways and means of win-win cooperation, and share new achievements in cooperation and development, Xiao added.

During the event, Xiao also met with Rich Lesser, Global CEO and President of Boston Consulting Group, Douglas Peterson, President of S&P Global, Christian Mumenthaler, CEO of Swiss Re AG's, William Cohen, Chairman and CEO of Cohen Group and former US Secretary of Defense, Dilhan Pillay Sandarasegara, Deputy CEO of Temasek International, and Bill Winters, Group Chief Executive of Standard Chartered, briefing them on the progress of reform and development of China's state assets and SOEs.

They also conducted in-depth discussions on enhancing bilateral cooperation.



(Executive editor: Hao Wen)

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